Financial Performance - The company's operating revenue for Q3 2021 was ¥184,915,675.32, representing a year-on-year increase of 27.43%[5] - The net profit attributable to shareholders decreased by 58.21% to ¥19,592,391.63 compared to the same period last year[5] - The basic earnings per share (EPS) was ¥0.05, down 66.67% from the previous year[6] - Total operating revenue for the first three quarters of 2021 reached ¥515,796,473.10, a 33.0% increase from ¥387,482,403.36 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was ¥79,175,690.67, a decrease of 27.6% compared to ¥109,352,231.13 in the same period of 2020[22] - Earnings per share for the first three quarters of 2021 were ¥0.23, down from ¥0.34 in the same period of 2020[22] Assets and Liabilities - The total assets increased by 40.98% to ¥1,334,275,711.21 compared to the end of the previous year[6] - Total assets increased to CNY 946,447,946.85 as of Q3 2021, up from CNY 983,750,816.46 at the beginning of the year, reflecting a growth in asset base[27] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥228,997,700.56, a decrease from ¥352,564,241.88 at the end of 2020[20] - Total liabilities amounted to ¥352,564,241.88, a decrease of ¥37,302,869.61 from ¥389,867,111.49 in the previous period[28] - Non-current liabilities totaled ¥117,996,242.57, down from ¥152,259,991.53, reflecting a reduction of ¥34,263,748.96[28] Cash Flow - Cash flow from operating activities decreased by 98.91% to ¥1,715,497.27 for the year-to-date period[5] - Cash flow from operating activities for the first three quarters of 2021 was ¥551,905,415.42, an increase from ¥444,132,244.45 in the same period of 2020[23] - Operating cash inflow for Q3 2021 was CNY 573,886,442.37, an increase from CNY 492,029,783.35 in Q3 2020, reflecting a growth of approximately 16.5%[24] - Net cash outflow from investing activities was CNY -252,015,917.58, compared to CNY -173,952,506.19 in the same period last year, indicating a significant increase in investment expenditures[24] - Cash flow from financing activities generated a net inflow of CNY 266,119,609.70, up from CNY 34,711,590.09 in Q3 2020, showing a substantial increase in financing efforts[25] Inventory and Expenses - The company reported a significant increase in inventory and prepaid coal payments due to rising coal prices, impacting cash flow[10] - Inventory increased to RMB 44.24 million from RMB 33.00 million, indicating a growth of approximately 34% year-over-year[18] - Total operating costs for the first three quarters of 2021 were ¥413,829,104.09, up 58.2% from ¥261,482,229.36 in the previous year[20] - The company reported a decrease in sales expenses to ¥1,215,081.11 from ¥1,020,240.95 year-over-year[21] - Research and development expenses were reported at ¥7,700.00 for the first three quarters of 2021, compared to ¥0 in the previous year[21] Shareholder Equity - The equity attributable to shareholders rose by 86.11% to ¥1,105,278,010.65 compared to the end of the previous year[6] - Total equity attributable to shareholders reached ¥1,105,278,010.65, significantly up from ¥593,883,704.97 in the previous year[20] - The company maintained an undistributed profit of ¥226,298,013.32, consistent with the previous reporting period[28] - The capital reserve remained stable at ¥1,879,709.73, with no changes reported[28] Financing Activities - The company successfully raised net funds of ¥432 million through its initial public offering, which diluted earnings per share[10] - The company raised a total of RMB 480.61 million by issuing 80.09 million shares at a price of RMB 6.07 per share, with a net amount of RMB 322.22 million after deducting issuance costs[15] - The company received CNY 452,978,663.16 from investment inflows during the financing activities, indicating strong capital raising efforts[24] Operational Efficiency - The company reported a net cash flow from operating activities of CNY 1,715,497.27, a decrease from CNY 157,454,230.53 in Q3 2020, indicating a decline in operational efficiency[24] - Cash outflows for operating activities totaled CNY 572,170,945.10, significantly higher than CNY 334,575,552.82 in the previous year, suggesting increased operational costs[24] - The company paid CNY 36,744,571.46 in employee compensation, which is an increase from CNY 31,261,206.15 in Q3 2020, reflecting a rise in workforce expenses[24]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 330,880,797.78, representing a year-on-year increase of 36.52% compared to CNY 242,366,746.87 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 4.62% to CNY 59,583,299.04, down from CNY 62,469,758.99 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 4.67% to CNY 59,338,645.52, compared to CNY 56,690,334.64 in the same period last year[17]. - The total profit amounted to 79.53 million yuan, a year-on-year decrease of 4.63%[39]. - The company achieved a comprehensive income total of ¥59,583,299.04, consistent with the net profit figure for the period[131]. - The total comprehensive income for the first half of 2021 was CNY 57,002,295.97, compared to CNY 63,824,695.08 in the same period of 2020, indicating a decrease of approximately 10%[134]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 45.40% to CNY 64,756,882.78, down from CNY 118,592,955.59 in the previous year[17]. - The company's cash and cash equivalents decreased by 47.99% to ¥97,842,385.69, compared to ¥188,121,171.27 at the end of the previous year[49]. - Cash inflows from operating activities amounted to CNY 381,885,140.09, an increase of about 13% from CNY 337,532,286.74 in the first half of 2020[135]. - The net cash flow from financing activities was negative at CNY -64,432,717.47, compared to a positive CNY 46,606,738.85 in the first half of 2020[136]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 961,696,112.85, a slight increase of 1.61% from CNY 946,447,946.85 at the end of the previous year[17]. - The total liabilities decreased to ¥308,229,108.84 from ¥352,564,241.88, a decline of about 12.6%[124]. - The company's retained earnings increased to ¥285,881,312.36 from ¥226,298,013.32, reflecting a growth of approximately 26.4%[124]. - The inventory increased by 46.89% to ¥48,474,786.80, reflecting higher coal prices[49]. Operating Costs and Profitability - The increase in operating costs was primarily due to a 58.80% rise in raw material costs, which outpaced the growth in operating revenue[19]. - Operating costs increased by 58.80% to ¥232,512,679.93, primarily due to a 44.22% rise in coal prices[45]. - The average procurement price of coal was 1,036.16 yuan/ton, an increase of 323.42 yuan/ton or 45.38% year-on-year[39]. - The company experienced a decrease in net profit due to the absence of non-recurring gains from government subsidies received in the previous year, amounting to CNY 7,414,400[19]. Environmental and Technological Initiatives - The company aims to reduce carbon emissions to levels comparable to natural gas combined cycle power plants, enhancing economic benefits through carbon trading[30]. - The company is the first in Zhejiang Province to pass ultra-low emission acceptance for its entire plant, significantly reducing operational costs and improving overall efficiency[34]. - The company has implemented energy-saving upgrades that are expected to further reduce coal consumption and improve environmental performance[40]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[70]. Shareholder and Governance Matters - The company has not distributed dividends or bonus shares for the reporting period, maintaining a profit distribution of 0[61]. - The controlling shareholder is obligated to increase their holdings if the stock price remains low after the buyback[84]. - The company will disclose any buyback plans within two trading days after the board's decision[86]. - The company has committed to not transferring or managing shares for 36 months post-IPO, ensuring stability in shareholding[78]. Legal and Regulatory Issues - The company is pursuing a claim of RMB 25 million against Zhejiang Tianle Group for bank loan repayment, with a court mediation agreement reached for repayment by July 16, 2021[96]. - The company is also involved in a heat supply contract dispute, claiming RMB 38.72 million in unpaid price differences and RMB 4.39 million in interest losses[97]. - The company has ongoing litigation regarding a monopoly pricing dispute, with a court ruling against the plaintiff, who has appealed[93]. Market Position and Competition - The company is the only public centralized heating enterprise in Shengzhou City, facing competition from 16 other thermal power plants in the surrounding area[30]. - The company has established a strong customer base with over 150 downstream clients, including major pharmaceutical companies and textile industries[35]. - The company anticipates continued growth in steam and electricity sales as the impact of the COVID-19 pandemic on downstream users diminishes[19]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[155]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition[156]. - The company does not have any significant events that would raise doubts about its ability to continue as a going concern[155]. - The company has not reported any major contracts or their performance during the reporting period[102].